Each week the Savvy Insight Team draws together the latest industry news, interesting facts and marketing intelligence from around the world and pieces it into one article. Simply click on the highlighted source to read the full article.
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Morrisons profits jump – Retail Week
Morrisons has registered its first full year profit and like-for-like sales growth since 2012 as the supermarket’s turnaround plan gains momentum. Morrisons posted an 11.6% jump in underlying pre-tax profit to £337m for the year ending January 29. Like-for-like sales jump 1.7% across the year and 2.5% in its fourth quarter, with total sales increasing 1.2% to £16.3bn. A 2.5% uplift in its fourth quarter meant that Morrisons recorded positive like-for-likes in every quarter of its financial year and has now enjoyed five consecutive quarters of growth.
Sugar content to be cut by 10% – The Grocer
Nestlé UK & Ireland has vowed to strip 10% of sugar from its confectionery portfolio in the next year. The move will see around 7,500 tonnes of sugar removed from its portfolio of well-known brands including Kit Kat, Aero and Yorkie through reformulation and reduction in product size. Nestlé also pledged to continue investment in research and development to further improve products in the future. Making the announcement, Nestlé Chairman and CEO Fiona Kendrick said: “Our confectionery brands have been enjoyed in the UK for more than a century and we know that if we can improve these products nutritionally, provide more choice and information for the consumer, together with other categories, we can have a significant impact on public health”.
Other notable brands and retailers that have been covered in the full Inside Knowledge piece are: Tesco, Costcutter, John Lewis, PepsiCo, Weetabix, Hellman’s, Babybel, and Baileys.
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